Venture funding

When Visa opened its tools to third-party developers two years ago, it was a strong pivot away from a longstanding of operating a closed, proprietary network. Its latest investments indicate this strategy is of growing importance on a global scale.

Ant Financial, the Chinese payments giant controlled by Jack Ma, is expected to close a fundraising of at least $10 billion in the next few days, attracting Carlyle Group and the Canada Pension Plan Investment Board as first-time investors, according to people familiar with the matter.

The U.K. government has committed to a 5G Urban Connected Communities Project for a city-wide trial of 5G wireless technology as part of the fourth phase of the government’s 5G strategy. This trial should spark substantial investment in new payments technology.